Hello community, I have 5 YOE Current CTC: 25 Lpa Working with MNC in bangalore, unmarried Apart from this i have 7Lkhs of Auto loan left which was of 4 years, I don’t wish to prepay that.
Do you have any suggestions if I want to quit job market in coming 10 years and do something of my own or attempt something remote coz I don’t see myself in bangalore in coming years.
When you have EPF then don't put much money in PPF, you are young can take more risk, increase equity exposure
Already converted my sips to tax saver and direct stocks or equity MFs. Thanks for your advice 👍🏻
Why do you want to pay interest on auto loan minimum 10% as per my latest knowledge unless it's a EV giving you some tax relief under some section
Got it on 8% but i believe paying lumpsum would take my emergency fund and some of stock holdings which am seeing approx 15% also bank already took most of interest component from loan in 1st year.. remaining principal amount is more compared to interest component, so doesn’t make sense in my view to pay it early.
Any suggestions from senior or experienced ones.. i mean who figured out in life .. would be greatly appreciated
Go take risk. Go for smallcap equity MF fully.
Thanks for your advice
If you have next 10 years to build a corpus then go for more riskier investments. Its okay to not prepay auto loan since you can get 12% from mkt. Indian stock mkt is all time high though, and a lot of the gains are priced in already, try diversify into US mkt as well.
makes sense.. thanks a lot for your advice 👍🏻
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